EDITION #185
Perth, Western Australia - Thursday August 11, 2022
PUBLIC COMPANY NEWS, VIEWS & CEO INTERVIEWS |
88 Energy reveals billion-barrel resource in Alaska |
ASX-listed explorer 88 Energy has announced a maiden resource estimate of 1.03 billion barrels located on the central North Slope of Alaska. The Icewine East project is spread over an area of 185,320 net acres. The maiden resource estimate is based on well logs from the previously drilled exploration well Icewine 1, seismic data, data from other wells in the region, recent petrophysical analysis and geophysical mapping. 88 Energy holds a 75 per cent working interest in the project. |
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Quantum makes off-market bid for SA graphite play
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Quantum Graphite has made a play for fellow SA graphite developer and explorer Lincoln Minerals. Under the off-market bid, the company is offering one Quantum share for every 40 Lincoln shares. Lincoln is the custodian of the 2.2Mt Kookaburra Gully graphite project grading 15.5 per cent total graphitic carbon and is located in a world-class flake graphite province on South Australia’s Eyre Peninsula. |
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Toro on target with fourth massive nickel sulphides discovery |
Toro Energy has continued its run of impressive results at the company’s Dusty nickel project in WA with the discovery of a fourth massive nickel sulphide zone from its ongoing diamond drill campaign. The latest discovery was highlighted after a drill hole hit a 3.6m section of massive sulphides from 244.1m. Toro says portable X-ray fluorescence analysis of the 3.6m intersection indicates grades between 1.45 and 3.66 per cent nickel. |
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Hot Chili produces record copper grades for Chile project |
Copper explorer Hot Chili has recorded its highest-grade intersection to date at the company’s Costa Fuego copper project in Chile whilst also extending the strike of its Valentina deposit by 120m. Assays returned from RC drilling at the historical Valentina copper mine recorded an 8m intersection at 5.9 per cent copper equivalent from 27m. The company says the copper equivalent breaks down to 5.7 per cent copper and 24.1 grams per tonne silver. |
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PolarX on sampling mission in Nevada after big RC strike
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PolarX has launched a channel sampling program across an outcropping gold-infused vein system at its Golden Staircase precious metal target, part of its larger Humboldt Range project in Nevada, USA. The campaign is aimed at testing highly prospective targets within earshot of a recently struck 9.1m intersection that ran a dazzling 124 grams per tonne gold from just 27.4m. |
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Lanthanein eyes up to $3m from PNG gold play sale |
Lanthanein Resources’ planned sale of its Papua New Guinea gold interests will net the company $2 million, with another $1 million payable if a minimum 500,000 ounces is outlined at the project. The deal has also taken a twist with the proposed new owner, PNG-based Lole Mining, agreeing to be taken over by another WA-based company, Tempest Minerals for more than $25 million and Lanthanein says it is “buoyed” by the development. |
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Horizon, Richmond ink vanadium deal with battery maker |
Richmond Vanadium Technology, which is 25 per cent owned by Perth-based Horizon Minerals, has struck an off-take agreement with emerging manufacturer Ultra Power Systems to supply vanadium for its patented energy storage modules. Under the agreement, Richmond will invest up to $5 million to shift Ultra into production of its battery technology and in turn secure a guaranteed buyer of vanadium pentoxide from its Queensland project. |
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Farm-in deal allows Kula to focus on kaolin future
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Kula Gold has entered a farm-in agreement with Australian Critical Minerals for its Rankin Dome project near Southern Cross in a bid to focus on its Boomerang kaolin project and exploration of other tenements. Under stage 1 of the deal, Australian Critical Minerals can earn up to 51 per cent interest in Rankin Dome near Southern Cross in WA by spending $200,000 and completing 2000m of RC drilling at the site within 24 months. |
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Latin fires up lithium feasibility work in Brazil
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Just months after unearthing its promising Colina lithium prospect in Brazil, Latin Resources has moved to launch metallurgical test work, establish a JORC-compliant resource estimate and kick off a Preliminary Economic Assessment at the target. The data drawn from its programs will feed into a fast-tracked definitive feasibility study. |
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Mt Malcolm drills deeper for more Leonora gold
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Mt Malcolm Mines appears to have hit a deep patch of mineralisation after assay analysis from a diamond drill campaign at its Calypso prospect near Leonora in Western Australia showed wide gold intersections. Following a significant intersection recorded from the upper segment of a drill hole last month, Mt Malcolm re-entered and extended the hole by 100m, with results showing 50m of consistent mineralisation and 50m of intermittent mineralisation. |
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Valor unveils six new Canadian uranium targets |
ASX-listed Valor Resources has outlined six high priority drill targets following an initial field visit, legacy data review and airborne gravity survey at its Hidden Bay uranium project in Canada. The project is strategically located about 20km south of Cameco’s historical Rabbit Lake mine where over 200 million ounces of uranium concentrate was once produced. |
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Maiden drill hole delivers copper hit for Godolphin |
Godolphin Resources’ maiden diamond drill hole from its Cyclops prospect on the Lachlan Fold Belt of central west NSW has returned multiple zones of shear-hosted high-grade copper with coincident gold, silver and molybdenum mineralisation. Godolphin describes the multiple intersections as “highly encouraging” with assay results greater than 1 per cent copper included within a broader low envelope of mineralisation. |
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Maximus expands Kambalda holdings with new prospect |
Maximus Resources has expanded its holdings around the company’s Spargoville project near Kambalda in Western Australia with the acquisition of a prospecting licence for the nearby Kemble tenement. The company says recent prospecting at the 192 hectare underexplored site has delivered considerable near-surface gold whilst also being prospective for nickel due to favourable geology and anomalous nickel in soil samples. |
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Auroch firms up Kalgoorlie nickel resource estimate |
Auroch is one step closer to completing a scoping study on its Saints nickel project near Kalgoorlie, releasing a JORC-compliant mineral resource update tallying 911,000 tonnes at 2.3 per cent nickel for 21,000 tonnes of contained nickel metal. Importantly, the new estimate has boosted two-thirds of the resource into the higher indicated category with a 15 per cent increase in average nickel grade. |
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Middle Island wraps up maiden drill campaign in NT |
Middle Island Resources has completed its maiden drilling program for iron oxide-copper-gold, or "IOCG”-style mineralisation at the company’s copper gold project in the NT’s Barkly region, east of Tennant Creek. After intersecting IOCG-style alteration in its first 808m diamond drill hole at the start of the month, the explorer has chewed through another 2217m in search of a large-scale and lucrative IOCG deposit. |
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